LUXURY cars, prime properties and R20,3 million in assets frozen.
The Special Investigating Unit (SIU) is tightening its grip on alleged corruption at Transnet following irregular property valuation contracts worth R89 million.
With Porsches, Mercedes-Benzes and Fourways apartments now under lock and key, this is the latest move in the fight against maladministration and state capture-era contracts.
The SIU, working in collaboration with Transnet, has secured a preservation order from the Special Tribunal to freeze assets valued at approximately R20,3 million.
This forms part of an ongoing probe into three allegedly irregular contracts awarded for property valuation services to Transnet SOC Limited.
The contracts in question, awarded in 2019, 2021 and 2022, have a combined value of R89 million.
According to the SIU, preliminary findings suggest that procurement processes were flawed, raising serious questions about compliance with supply chain management policies and the possible exercise of undue influence during the awarding of the tenders.
The preservation order, which was granted by the Special Tribunal, prevents involved parties from selling, transferring, leasing or otherwise dealing with assets while civil proceedings are underway.
Among the frozen assets are several luxury vehicles and multiple high-value residential and commercial properties.
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SIU spokesman Kaizer Kganyago said the preserved movable assets include vehicles such as a Porsche 718 Boxster, Porsche Macan S Diesel, Mercedes-Benz V250d Avantgarde, Mercedes-Benz C200, two Volkswagen Amaroks and a Toyota Hilux.
The order also includes immovable properties such as a house and several apartments located in Fourways, Broadacres and Bryanston along with four office units in Vanderbijlpark.
Kganyago said these assets are linked to several respondents including MM Real Estate (Pty) Ltd, HTM (Pty) Ltd, S Mabuza Properties and Ladybird Business Hive.
"The SIU and Transnet have reason to believe that the state may not have received full or fair value for payments made under the disputed contracts," he said.
He said the order is part of a broader effort to combat fraud, corruption and maladministration in state institutions.
The SIU is empowered to institute civil action to recover losses suffered by the state and refer any criminal findings to the National Prosecuting Authority.
"This step ensures that assets suspected to have been acquired through irregular means are secured while legal processes unfold," said Kganyago.
